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Australia, NZ: Shares rise as Brexit fears subside

Monday, June 20, 2016 - 14:54

Australian and New Zealand shares rose on Monday as the latest poll showed Britons leaning in favour of staying in the European Union, which spurred a move out of safe-haven gold and back into banking and mining stocks.

PHOTO: REUTERS

[SYDNEY] Australian and New Zealand shares rose on Monday as the latest poll showed Britons leaning in favour of staying in the European Union, which spurred a move out of safe-haven gold and back into banking and mining stocks.

The S&P/ASX 200 index rose 94.13 points, or 1.82 per cent, to 5256.80 at the close of trade. The gains helped to claw back much of last week's 3 per cent drop, which was largely sparked by Brexit fears.

New Zealand's benchmark S&P/NZX 50 index gained 22.47 points, or 0.33 per cent, to finish the session at 6869.54.